USDJPY-Make use of the retracement
Updated
Price shows its intention to retrace after a long breakthrough the Monthly resistance towards the North by the double top pattern seen on 4h time frame.
Put sell stop order towards the next Daily support as indicated by Sell Position tool. Lock profit as soon as price goes below 1:1 risk reward ratio by moving SL to BE (Break Even).
Put sell stop order towards the next Daily support as indicated by Sell Position tool. Lock profit as soon as price goes below 1:1 risk reward ratio by moving SL to BE (Break Even).
Note
Stop order did not get triggerred. Price goes further North. Potential Kings Crown or Head and Shoulder pattern can help to locate good position to sell.
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